Self custody Bitcoin indirectly by sending shares of MSTR, MARA, RIOT, and TSLA to transfer agent to circumvent KYC digital ID bullshit at crypto exchanges.
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"Self custody" "Indirectly". Great meme and fair enough if that's the best way to get crypto without KYC but they'll still be trusting someone else to hold it for them.
Correct. Summary of all current options for purchasing Bitcoin:
Buy through crypto exchange like Coinbase. Self-custody blocked unless you submit to KYC digital ID process (Constitutional challenge is inbound)
Buy indirectly by purchasing corporate stocks that hold Bitcoin on balance sheet as mentioned above. Self-custody shares at Transfer Agent.
Buy from peer-to-peer Bitcoin exchange like bisq to self-custody in private wallet: https://docs.bisq.network/getting-started.html ;Use small amounts and test computer to validate.
Purchase for Bitcoin IRA (custodial): https://www.mydigitalmoney.com/ ;2024/2025 limit is $7000/$8000 ages -50/+50
I recommend doing all 4. I am working #3 now, and have done 1,2, and 4. #1 is now blocked until I am allowed to use KYC alternative process. Not too upset about being blocked for #1 because saving up to dump max contribution into my IRA and January 1, 2025 (2025 contribution).
I don't understand why someone would rather trust someone else to hold their crypto instead of trusting a KYC exchange to know their ID.
How is it possible to own shares without having created and account that requires ID.
ID verification is being done separately for account opening vs transferring Bitcoin to private wallet. They are adding a “second layer” of restrictions by blocking transfers to private wallets unless you do KYC digital ID so they can track how/where your Bitcoin is going. KYC is being used unconstitutionally and unlawfully to restrict self-custody (4th Amendment violation and fraud statute violation).
I had Coinbase account for a long time, did numerous transfers out, no restrictions; then they rollout KYC and block me from taking self-custody. Same thing with other crypto exchanges.
Interesting, I agree it's unconstitutional, but at the end of the day, the largest criminal organizations like the govt and banks already know everything they need to about me, so i couldn't care less if the govt and a random crypto exchange knows my ID and crypto wallet address, because they can't get a bank to sieze it on their behalf.
LocalBitcoins require KYC? if not, you can meet people in person and buy BTC with cash.
If you buy the shares without KYC, would you need KYC if you ever went to sell and transfer the money back?